David Eby calls Trump tariffs ’economic war’ that would cost B.C. $69 billion

3 hours ago 1

A preliminary financial assessment said corporate profits in B.C. would decline $6.1 billion in 2025 due to tariffs

Author of the article:

Published Jan 16, 2025 • 1 minute read

British Columbia has a relatively diversified export market, with about 54 per cent of its exports going to the U.S. in 2023, compared to the two-thirds seen from other provinces.

British Columbia Premier David Eby says United States president-elect Donald Trump has made a “declaration of economic war” on Canada and B.C. with his proposed 25 per cent tariffs on Canadian goods.

Article content

Eby and Finance Minister Brenda Bailey released costings that suggest the tariffs and a similar response from Canada would cumulatively cost B.C. $69 billion in lost GDP by 2028.

Advertisement 2

THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY

Subscribe now to read the latest news in your city and across Canada.

Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
Daily content from Financial Times, the world's leading global business publication.
Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
Daily puzzles, including the New York Times Crossword.

SUBSCRIBE TO UNLOCK MORE ARTICLES

Subscribe now to read the latest news in your city and across Canada.

Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
Daily content from Financial Times, the world's leading global business publication.
Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
Daily puzzles, including the New York Times Crossword.

Create an account or sign in to continue with your reading experience.

Access articles from across Canada with one account.
Share your thoughts and join the conversation in the comments.
Enjoy additional articles per month.
Get email updates from your favourite authors.

THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.

Create an account or sign in to continue with your reading experience.

Access articles from across Canada with one account
Share your thoughts and join the conversation in the comments
Enjoy additional articles per month
Get email updates from your favourite authors

Sign In or Create an Account

Article content

The costings also estimate 124,000 fewer jobs in the province by 2028 and that the unemployment rate would rise to 7.1 per cent next year.

The preliminary assessment by the Ministry of Finance also suggests corporate profits in B.C. would decline $6.1 billion this year.

Bailey says B.C. sent about 54 per cent of exports to the U.S. in 2023 and that the province has a relatively diversified export market compared with other provinces where the U.S. buys more than three quarters of exports.

Recommended from Editorial